From HYBE’s two $300m+ offers to Robert Kyncl’s first earnings name as WMG CEO…. it’s MBW’s Weekly Spherical-Up


Welcome to Music Business Worldwide’s weekly round-up – the place we be sure that you caught the 5 largest tales to hit our headlines over the previous seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their revenue and scale back their touring prices.


This week introduced information of not one, however two $300m+ offers related to leisure large HYBE, the corporate behind BTS.

On Thursday (February 9), HYBE America, led by CEO Scooter Braun, introduced its acquisition of Atlanta rap powerhouse QC Media Holdings or Quality Control, dwelling to acts corresponding to Lil Child, Migos, Lil Yachty and Metropolis Ladies. Selection reported that the deal is valued at $320 million in inventory and money.

In the present day (February 10), we discovered that HYBE is shopping for a 14.8% stake in SM Leisure from its founder Lee Soo Man, in a deal price 422.8 billion South Korean Received (approx. $334.5 million).

Lee Soo Man was the corporate’s largest shareholder previous to the deal, with an 18.46% stake, which implies that HYBE, with a 14.8% stake within the firm, will grow to be SM Leisure’s largest shareholder.

Additionally this week, Warner Music Group reported its outcomes for the three months to finish of December 2022 (calendar This autumn, however fiscal Q1 at WMG) and Robert Kyncl participated in his first quarterly earnings name as Warner Music Group CEO.

Elsewhere, TikTok launched its impartial distribution platform SoundOn in Australia, simply days after information arrived that the platform has been limiting entry to main label music available in the market as a part of a take a look at with a subset of customers.

Plus, Hipgnosis acquired a track catalog from the first-ever Grammy Songwriter of the Yr Tobias Jesso Jr., whereas Songtradr agreed to purchase  UK-based music know-how firm 7digital.

Right here’s what occurred this week…


HYBE

1) HYBE HAS NOW SPENT $600M+ IN ONE WEEK, AS IT BUYS 14.8% STAKE IN K-POP RIVAL SM ENTERTAINMENT FOR $334M

There’s a variety of consolidation occurring amongst the giants of the Ok-Pop trade.

Earlier this week, we discovered that South Korea-based Kakao Corp had acquired a 9.05% stake in Ok-Pop firm SM Leisure, which is behind stars like NCT, EXO and Aespa.

In response to Reuters, Kakao is shopping for its stake in SM Leisure in a deal price 217.2 billion received ($172.8 million).

Now, one other large of the Ok-Pop world, HYBE, the corporate behind superstars BTS, can be taking a stake in SM Leisure….”


2) TIKTOK, INDIE TRACKS, AI, AND TECH-DRIVEN ‘EFFICIENCIES’: ROBERT KYNCL’S FIRST EARNINGS CALL AT WMG WASN’T SHORT ON PUNCHINESS

Robert Kyncl might have requested for a rosier set of fiscal outcomes to accompany his first quarterly earnings name as Warner Music Group CEO.

WMG’s buyers can be hard-pressed, nonetheless, to ask for an tackle that was extra candid and unequivocal.

Instance: Inside 50 seconds of his opening speech, Kyncl advised analysts: “I’m dedicated to sustaining simple and constant communication inside the investor group. So in that spirit, I wish to instantly and clearly acknowledge that this was a tricky quarter.”

Clearly, Kyncl had due trigger for this acknowledgment: WMG’s recorded music streaming revenues fell 2.6% YoY at fixed foreign money within the three months to finish of December 2022 (calendar This autumn, however fiscal Q1 at WMG)…


3) TIKTOK LAUNCHES DIY DISTRO SERVICE SOUNDON IN AUSTRALIA, THE SAME WEEK IT STARTED LIMITING ACCESS TO MAJOR LABEL MUSIC IN THE MARKET

The timing of TikTok’s newest information is bound to boost a number of eyebrows within the world music trade.

TikTok has launched its impartial distribution platform SoundOn in Australia, simply days after information arrived that the platform has been limiting entry to main label music available in the market as a part of a take a look at with a subset of customers.

SoundOn was already Dwell within the UK, US, Brazil and Indonesia, after launching in March final yr…


4) HIPGNOSIS ACQUIRES SONG CATALOG OF TOBIAS JESSO JR., WHO WAS JUST NAMED SONGWRITER OF THE YEAR AT THE GRAMMYS

Hipgnosis Track Administration has made its third acquisition in three weeks, shopping for a track catalog from Tobias Jesso Jr., who on Sunday (February 6) was named because the first-ever Grammy Songwriter of the Yr.

Jesso’s credit embody Adele’s hit When We Had been Younger which has been streamed on Spotify over a billion occasions and Boyfriends, a observe on Harry’s Home which received this yr’s Grammy for Album of the Yr.

Information of the deal follows Hipgnosis’ acquisition final week of a track catalog from TMS, the British songwriting and document manufacturing trio of Tom ‘Froe’ Barnes, Benjamin Kohn and Pete ‘Merf’ Kelleher for an undisclosed price.

It additionally comes two weeks after shopping for a track catalog and related revenue streams from Justin Bieber for round $200 million… (MBW)


5) SONGTRADR TO ACQUIRE 7DIGITAL, A UK PUBLICLY LISTED B2B MUSIC TECHNOLOGY COMPANY, IN $23.4M DEAL

Los Angeles-based B2B music licensing firm Songtradr has agreed to accumulate 7digital, a UK-based publicly listed music know-how firm.

That’s in keeping with a submitting printed within the UK on Wednesday (February 8), which states that the transaction is anticipated to shut in Q1 2023 and that the deal is an all-cash supply for 7digital’s whole issued share capital, valued at approx. £19.4 million ($23.4m).

7digital supplies a catalog of over 80 million licensed tracks and affords API providers to energy music in apps throughout health, social, radio, gaming and background music…


MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.

 Music Enterprise Worldwide



Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles